Solana (SOL) accounts for a $1.162 billion out of FTX’s $3.4 billion in digital assets. On September 13, FTX is submitting a request to approve the liquidation of these $3.4 billion in digital assets, which will place strong sell pressure on the market while also sparking fear for cryptocurrency investors.
A short trade setup was posted in early August with the goal of shorting the next SOL peak down to the yellow support trendline. This price target has been reached, but now there is the threat of a steeper decline for SOL.
SOL’s price action will be significantly impacted by the judge’s ruling. However, these are my key price levels in case if SOL continues its strong selloff:
– Support Zone Between $14 to $15.30
– Support Zone Between $9.80 to $12.30
SOL TradingView Chart:
https://www.tradingview.com/chart/SOLUSD/SQRsmmdr-Solana-s-Key-Price-Levels-for-FTX-Selloff/
